Malaysia's GDP to grow 3.1% in 4Q21: Bank Islam

KUALA LUMPUR: Malaysia’s economy is projected to grow by 3.1 per cent year-on-year for the fourth quarter of 2021, a rebound from the 4.5 per cent decline during the September quarter following the MCO 3.0 implemented in late June last year.

In its gross domestic product (GDP) review today, Bank Islam said the 3.1 per cent growth for the last quarter of 2021 took into account the flash floods that had devastated the key states at end-December 2021, which caused an estimated RM6.1 billion in overall losses.

"We are also maintaining our Malaysia’s full year GDP growth target of 3.0 per cent in 2021, barring any unforeseen changes required following the fourth quarter of 2021 GDP data release on Feb 11, 2022,” the bank added.